Bitcoin Price Drops Below $112K as Expanding Megaphone Pattern Persists

Bitcoin’s price has fallen below the crucial support level of $112K, entering a broader megaphone pattern that highlights ongoing market volatility. This evolving structure signifies active testing by both buyers and sellers as they grapple for control of the cryptocurrency’s direction. 8th-month, Bitcoin is at risk of falling further in line with the lower boundary of this pattern, potentially reaching levels around $107K before stabilizing. The current market condition requires a rebound above the support level to signify a bullish market resurgence.